Europe (Jan – Nov) 2020

Malaysian Palm Oil Exports Performance to Europe Region
(Jan – Nov 2020)
A Review on MPO Performance

Table 1: A Review on MPO Export Performance (MT)

No. COUNTRY Jan – Nov 2020 Jan – Nov 2019 Diff (Vol) Diff (%)
1. Netherlands 994,584 819,168 175,415 21.41
2. Italy 415,187 452,816 -37,629 -8.31
3. Spain 179,768 448,926 -269,157 -59.96
4. Sweden 95,168 93,783 1,385 1.48
5. Ukraine 49,385 33,703 15,681 46.53
6. Denmark 46,720 42,065 4,655 11.07
7. Germany 20,214 30,116 -9,902 -32.88
8. Georgia 19,423 12,931 6,492 50.21
9. Greece 15,614 6,696 8,918 133.18
10. UK 15,153 14,966 187 1.25
11. Others 47,045 66,634 -19,589 -29.4
12. Bulgaria 10,473 11,326 -853 -7.53
13. Russia 10,382 20,715 -10,334 -49.88
14. Croatia 7,409 8,681 -1,273 -14.66
15. Romania 6,538 11,266 -4,728 -41.96
16. Belgium 2,813 3,381 -568 -16.79
17. Latvia 1,794 2,229 -435 -19.51
18. Albania 1,483 1,541 -58 -3.79
19. Hungary 1,376 1,370 6 0.42
20. Switzerland 971 1,516 -544 -35.92
21. Serbia 816 962 -147 -15.23
22. Macedonia 794 475 319 67.05
23. Poland 516 1,620 -1,104 -68.14
24. Montenegro 374 597 -223 -37.33
25. Portugal 326 66 260 392.66
26. France 243 445 -202 -45.42
27. Serbia & Montenegro 216 216 #DIV/0!
28. Moldova 162 163 0 -0.29
29. Lithuania 97 54 44 81.35
30. Austria 60 60
31. Bosnia-Herceg 47 48 0 -0.86
32. Slovenia 46 47 -1 -1.99
33. Norway 44 22 22 100
34. Cyprus 42 42 1 1.2
35. Estonia 24 24
36. Czech 46 -46 -100
37. Malta 24 -24 -100
38. Grand Total 1,898,261 2,021,804 -123,543 -6.11
Source: MPOB

From January to November 2020, Malaysian palm oil export to the Europe region was recorded at 1.9 million MT. This was a decrease of 123,453 MT or by 6.11% compared to 2.02 million MT recorded in the same period of 2019 (Table 1). On a month to month basis, Malaysian palm oil exports to Europe increased from 131,768 MT in October 2020 to 182,924 MT (38.82%) November 2020.

Netherlands is the leading importer of Malaysian palm oil in this region with 994,584 MT or 53% of the total palm oil exported to Europe. This is an increase of 175,414 MT or by 21.41% compared 819,168 MT recorded in the same period of 2019. This higher import volume can be attributed to the increased demand from the re-exporters and traders to top up their stocks in anticipation of higher oils and fats prices which have seen an uptrend over the last quarter. The strong demand was also helped by the widening price spread between palm oil compared to sunflower in recent weeks. In the international market, the discount of palm oil to sunflower oil was USD275/MT.

Another interesting development is the rise in Malaysian palm oil exports to Ukraine which increased by 15,681 MT or by 46.53% to 49,385 MT. The total MPO imported by Ukraine thus far has exceeded the total MPO imported by the country in 2019 which was at 33,969 MT. However, these positive developments were dampened by the significantly lower imports of Malaysian palm oil by Spain which saw import declining by 269,17 MT or  by 60% as the country opted to choose palm oil from Indonesia. In the first 9 months of 2020, Indonesian palm oil exports to Spain increased by 26% from 813,000 MT to 1.02 million MT.

Breakdown of MPO Exports (MT)

In terms of products, CPO comprises as the main product exported with a total of 1,062,693 MT or 56% of the total palm oil exported. One of the main reason for this large share is the suspension of export duty for Malaysian CPO which made it more attractive for refiners to import palm oil, especially from Malaysia. Furthermore, Malaysian palm oil is certified sustainable which makes it more receptive by European buyers who demand such products.

Table 2 : MPO exports to Europe by Products
PRODUCTJan – Nov 2020Jan – Nov 2019Diff (Vol)Diff (%)
CPO508,426577,594(69,168)(11.98)
CPO INTERNATIONAL SUSTAINABILITY
AND CARBON CERTIFICATION
353,527586,646(233,118)(39.74)
CPO FOR RSPO FROM SEGREGATED
& INT SUSTAINABILITY N CARBON CERTIFICATION
200,740132,58368,15751.41
RBD PS180,522160,06820,45312.78
PAO106,80480,34626,45832.93
RBD PL87,476101,908(14,431)(14.16)
RBD PO86,40971,92214,48720.14
PMF / RBD PMF84,28785,898(1,611)(1.88)
PFAD74,288110,845(36,558)(32.98)
CPO FOR RSPO FROM SEGREGATED53,81323,55230,261128.48
OTHERS161,97090,44271,52879.09
TOTAL1,898,2612,021,804(123,543)(6.11)

Source: MPOB

Chart 1 : Breakdown of MPO Exports (MT)

Malaysian Palm Oil Imports By Netherlands

Netherlands is the leading importer of Malaysian palm oil in this region with 994,584 MT. This is an increase of 175,415 MT or 21.41% compared to 819,168 MT recorded in the same period of 2019. This higher import volume can be attributed to the increased demand from the re-exporters and traders to top up their stocks in anticipation of higher oils and fats prices which has seen an uptrend over the last quarter. Furthermore, additional demand has been seen in neighbouring countries as the effects of the Covid 19 pandemic has started to ease particularly from May. The strong demand was also helped by the widening price spread between palm oil compared to sunflower in the recent weeks.

Table 2: Breakdown of MPO Exports To Netherlands (MT)

PRODUCTJan – Nov 2020Jan – Nov 2019Diff (Vol)Diff (%)
CPO740,172601,487138,68523.06
RBD PS121,45785,60435,85341.88
PFAD32,01956,987(24,968)(43.81)
RBDPS FOR RSPO FROM SEGREGATED28,236028,236
PMF / RBD PMF25,44526,102(657)(2.52)
RBDPO FOR INTERNATIONAL SUBSTAINABLE & CARBON CERTIFICATION12,481012,481
NBD PL7,4169,848(2,432)(24.69)
OTHERS27,35839,141(11,782)(30.10)
GRAND TOTAL994,584819,168175,41521.41

Figure 1 : Breakdown of MPO Exports (MT)

Source: MPOB

For more info please contact Mr Izham: izham@mpoc.org.my

*Disclaimer: This document has been prepared based on information from sources believed to be reliable but we do not make any representations as to its accuracy. This document is for information only and opinion expressed may be subject to change without notice and we will not accept any responsibility and shall not be held responsible for any loss or damage arising from or in respect of any use or misuse or reliance on the contents. We reserve our right to delete or edit any information on this site at any time at our absolute discretion without giving any prior notice.

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